The GBPUSD pair is trading below its 50 day (shown in green) and its 100 day (shown in yellow) moving averages which suggest that the price is weak and this trend may continue. Moreover, the price action is also respecting its downward trend line and has been unable to break this line so far. The volatility for the pair is back to normal as the price action is trading within the Bollinger band.
However, the RSI is showing that the bias could be towards the upside.
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